Regis Healthcare Limited started 2025 with a bang, announcing that it has entered a binding agreement with BodeWell Community Care to acquire its business and assets.
Key points
- Regis is one of Australia’s largest aged care operators, supporting roughly 7,600 older Australians across residential care, home care and retirement living
- BodeWell is privately owned by Arcare Aged Care, delivering Home Care Packages, Commonwealth Support Home Programme and private home care services alongside NDIS services
- ASX-listed Regis is expected to double the scope of its home care business with over 2,500 clients and $30 million in revenue
- The sale is expected to be finalised in mid-2025 with no immediate changes to operations for BodeWell staff or clients
The deal is a significant one for Regis. The national operator will expand its home care reach and market share in Victoria and Southeast Queensland just in time for the introduction of Support at Home from July 1, 2025.
This is the second major expansion into Southeast Queensland in recent years after Regis acquired residential care provider CPSM and its five homes in December 2023 for $75.2 million.
Regis CEO Linda Mellors praised BodeWell, calling it a well-regarded home care service, and said the expansion will enable Regis to enhance existing operations.
“We expect the expanded home care business will benefit from an ageing population, increased government funding, and the shift in consumer preference to age in place.
“We are excited to welcome BodeWell’s clients and staff to the Regis group and look forward to continuing to deliver high-quality home care services.”
While not specified by Regis, the acquisition is expected to separate BodeWell’s NDIS business from home and community care operations.
Arcare CEO Colin Singh said the decision to sell to Regis was made following a thorough selection process and with the best interests of its team, clients, and future in mind.
“Regis, with its extensive experience in home care and a strong national presence, is well-positioned to build upon the foundation we have established. We are confident in their ability to maintain BodeWell’s values and vision,” Mr Singh said.
“We would like to express our gratitude to the entire BodeWell team. Your dedication, hard work, and commitment have been pivotal to BodeWell’s success, and we are thankful for your contribution.”
Operationally, there will be few disruptions to day-to-day services for clients. Regis said there may be some changes to systems and processes, but the terms of client agreements will remain the same.
Staff will receive a new offer of employment in late February. Regis said employees of the BodeWell Community Care Home Care business will be offered positions with Regis, and upon acceptance, their employment will transfer at the completion of the acquisition.
“All employees will receive an offer of employment from Regis on terms and conditions that are comparable to, and no less favourable than current terms and conditions. All salaried employees will be offered a common law contract which will be effective from completion of the acquisition,” Regis stated on its website.
“Regis is focused on developing a scalable national Home Care business to address the increasing demands of an ageing population and shift in consumer preferences to age in place and we would like you to be part of this exciting journey.
“We encourage as many employees as possible to continue their employment and transfer to Regis as we highly value your experience, commitment and contribution. Should you decide to not accept the offer of employment with Regis you will receive all termination entitlements that are due to you at that time,” it added.
Years of service, benefits owed and annual leave accrued/approved from BodeWell will be recognised. More information for employees is available here.
The acquisition is subject to regulatory approvals and other customary conditions but is expected to be finalised by mid-2025. It will be funded by Regis’ existing cash.
Regis achieved a net profit after tax of $35.6 million for the 2023-24 Financial Year on a revenue of $1,014 billion. Its profit increased by 25% from the previous financial year, while its revenue increased by 30%.
